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Still unsure about physician home loan mortgage programs?

It’s OK! We get it you aren’t a financial guru, yet. Here is the bare bones, no bull explanation of these specialty home loans.

Physician mortgage loans were designed with Residents, Fellows, and New In Practice Physicians in mind. Some banks have extend the program to Dentist, Podiatrists and Veterinarians. If you are one of these specialties click on your designation to see your specific guidelines.

There are FIVE unique ways that make physician home loans the most practical choice.

Low or Zero Down Payment 0-10% is typical

No Private Mortgage Insurance(PMI) saving you up to 1% annually. That is a $10,000 per year savings on a 1 million dollar home.

Student loan debt not counted against you. This allows you to qualify for a nicer home.

Higher loan limits up to 2 million are available typically at the same rate

Ability to close 90 days prior to new employment beginning. Moving is stressful enough without starting a new job. Why move twice or pay huge premiums for long term housing.

BUT what do the banks get out of this?….

A future high income earning client

Some banks require you to have a checking or savings account with them

Rate and fees on these loans can be slightly higher than loans that require 20% down and years in current employment position